23.12.2011 - Present Islamic banks no different from other banks, experts lament

Some in the Islamic banking industry lamented that the difference between the Islamic banking and conventional banking is becoming thinner by the day. Experts attending the ongoing 8th International Conference on Islamic Banking and Finance believe that the present Islamic banking system is no different from interest based banking.
“The Islamic banks are doing business the same way as the conventional banks and the only difference is that, proverbially speaking, the interest-based banks hold the nose straight, while their Islamic counterparts catch it by twisting the arm around their neck,” said Dr Sayyid Tahir...............................................Full Article: Source